100k low-cost broadband subscriptions targeted by Telesp (Brazil)

By Editor on February 2, 2010 · Leave a Comment

www.WirelessFederation.com/news: Under the â€˜Programa Banda Larga Popular’ project, 60,000 to 100,000 low-cost broadband lines could be sold by Telefonica de Brazil (including Telesp) this year. The project is designed to provide inexpensive high speed internet access to lower income households throughout the Sao Paulo state.

The commercial launch of the new service would begin on February 24 and BRL29.80 (USD16) per month would be charged for a line giving a 256kbps connection in the city of Sao Paulo as well as certain cities across the state. The service will be offered via cable and wireless technology.

Filed under Mobile · Tagged with Brazil, Broadband, Launch, South America, Telefonica, Telesp

5% acquired by Vivendi in Brazilian GVT

By Editor on January 8, 2010 · Leave a Comment

www.WirelessFederation.com/news: Vivendi, French entertainment and telecoms group, increased its equity stake by 5% in Brazilian telco and ISP Global Village Telecom (GVT), lifting its ownership to 85.7% in the firm. Close to 118 million of GVT’s total of 137 million shares is owned by Vivendi after the transaction.

Vivendi’s purchase of GVT is currently reviewed by Brazil’s securities regulator amid accusations that the deal was unfair to minority shareholders. Earlier, details concerning alleged irregularities in the takeover were asked by Telefonica’s Brazilian subsidiary from country’s securities regulatory authorities.

A letter was also sent to the head of the securities regulator CVM, requesting information on the probe. The probe began in the month of November after which Vivendi launched its surprise bid. Telesp, on the other hand alleges that shareholders of the Brazilian company sold their stock based on inaccurate assumptions from the French group and financial agents linked to the GVT offer.

Filed under Mobile · Tagged with Brazil, Global Village Telecom, North America, South America, Telefonica, Telesp, USA, Vivendi

Telesp seeks details of probe by CVM in GVT takeover

By Editor on December 23, 2009 · Leave a Comment

www.WirelessFederation.com/news: The alleged irregularities in Vivendi of France’s takeover of local telco Global Village Telecom (GVT) has made Telesp to request information on the alleged irregularities from Brazil’s securities regulatory authorities. Soon after Vivendi launched its surprise takeover, the probe was started in November.

Possible infractions on call options held by Vivendi to acquire GVT shares have been interrogated by CVM.

According to Telesp, Telefonica’s Brazilian subsidiary, French group and financial agents linked to the GVT offer gave conflicting information and this prompted shareholders of the Brazilian company to sell their stock based on inaccurate assumptions.

Filed under Mobile · Tagged with Brazil, France, Global Village Telecom, South America, Telefonica Brazil, Telesp, Vivendi

$1.14 billion to be invested by Telefonica S.A in Brazil

By Editor on December 10, 2009 · Leave a Comment

www.WirelessFederation.com/news: An investment of 2 billion Brazilian reals, or $1.14 billion will be made by Spain’s Telefonica S.A in its Brazilian unit Telecomunicacoes de Sao Paulo, or Telesp, in 2010. The focus of the investment will be broadband Internet, and more specifically on expanding the network.

According to the economist’s forecast, Brazilian economy will grow by at least 4% next year and this will surely raise the demand for Telefonica’s service. A sharp increase in Telesp’s investments in its Speedy broadband service was noticed after telecom watchdog Anatel suspended sales between June and August after the customer complained about quality.

According to Telesp CEO Antonio Carlos Valente, the investment budget will be about the same level as in 2009, when a capital expenditure target of BRL2.4 billion was set.

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